GTXC a last dump? running for the hills? OR....

finally people are catching on? Look at this classic cart from 6/26. Sell off, test lows.. pump back up.. sell off.. establish new lows.



















Volume wasn't much.. a couple of spikes as the manipulators tested and retested. Will the lows hold? Or, can they pump this POS up some more?

Yesterday, the answer came. Volume up as the sell off starts.. and then, today.. look at this early chart. Volume spiking, big sell off.


















Now, look at the end of day chart. BIG volume sell off, then.. little or no volume as the rats have all dumped the holdings.

















The end is near. Any comments from the CEO? How about the President or CFO? (oh wait, they don't have one) Usually a precipitous drop in share price, with huge spikes in volume mean something is going on and "responsible" companies respond.

Someone should check and see if David is packing his itallian loafers and silk shirts into the Bentley and heading out of town.

Investors beware...GTXC is a SCAM.

Coming soon...Some interesting history... "Consulting" agreements that were part of a negotiated sale of Gatelinx in November of 04. So? you ask... well, they're with a Howell Woltz company that David was using to hide proceeds. More you ask? How about LOI's to sell Gatelinx/DishTV Now, signed after the December 04 "sale" of Gatelinx. How can you enter into agreements when you've already "sold" the comapnies assets?

Run now David.. the Fed's are coming.

GTXC GTX Global... How much more due diligence do you need?

From the Feb 2 Press release announcing the Yadio "Merger Termination"... this of course was after they were going to license the technology, sign a marketing agreement, announced the intention to merge, announced the board, filed SEC papers with board memebers and stock swap info, announced a shareholders meeting, had the shareholders meeting (although no one really knows cause there's never been any announcement) then canceled the merger, rescinded the board.. restructured the deal for a licensing deal (again) and then finally.. woooo (try saying all this on one breath?) landed on a marketing agreement. BUT.. way back on Feb 2, in the PR for this "merger termination" was...


"GTX Global also announces today that the due diligence period under the licensing agreements with Govalin Corp for Europe and EU countries and Heel Strike Corporation for Canada has been extended by mutual agreement until February 22, 2006. "

http://www.vizco.com/Resources/GTX_Yadio_Merger_Press_Release_Details_Feb_2.pdf <-- full press release here

Way back in NOVEMBER of 05, they (GTXC, GTX Global) announced that 2 companies "heelstrike" in canada, and "govalin" in the EU... were licensing the technologies.. FOR $2M DOLLARS.

After a series of "extentions" to the due diligence to complete this deal.. NOTHING. Maybe after the Yadio debacle (license it, market it, merge, complete merge, terminate merge, license it, market it) ... maybe they learned something and if a deal is fishy and hinky.. and not ever going anywhere, the best thing to do is just keep your mouth shut.... and hope no one, especially someone from the inside, notices and tells the truth.

SLIP SLIDING AWAY GTXC GTX Global

With the apologies to Paul Simon.. (sing along, you know the words) The nearer the Fed's detention, the more you're just slip sliding away....

hmmmm... no news from the SS Gatelinx? When was the last "news" release... lets look and see? MARCH 15.. and that was another one of the BS "Yadio" announcements. (http://www.pinksheets.com/quote/news.jsp?symbol=GTXC×tamp=2006-03-15%2009:52&headline=GTX+GLOBAL+CORPORATION+SIGNS+MARKETING+AGREEMENT+WITH+YADIO%2C+INC.&pno=30&compid=631458)

AFTER March 15... which friends is OVER 2 MONTHS... nothing but, relisted on Pink SHeets (How? I'll never know...) that was April 18... THEN, another new executive "CEO" (May 11) and then.. "Moving to Fully Reporting" (again.. HOW?) that was May 24.... After March 15? There has been NOTHING substantive.

How about some words of wisdom from the New "CEO" (or can't david get his hand up his backside far enough to move the guys lips?) You'd think that someone with Bradford W Isom's "stellar" track record and reputation would be moving to explain the strategy, the status of the "deals" (Heelstrike, Yadio, Govalin, et al).. the status of the technology.. something.. please Bradford, "my man".. tell us something.

How about some material filings (8K material change) for the new CEO, lack of CFO, etc.? Heck they got Lysiak on board as the "expert" on moving them to "fully reporting". Isn't it about time there is some news on this? Or has Lysiak figured out that he needs to get as far away from this sinking POS stock scam as is possible?

What's clear though.. is the "pump and dump" is running out of steam. Well managed to keep the price below $5 so it's just too darn expensive to short this POS... look at the volume since the last dump...

6/22 volume, 57,707
6/21, volume 43,000
6/20, voume 91,000
6/19, volume 57,900
6/16, volume 53,500
6/15, volume, 74,200
6/14, volume 86,400
6/13 volume 71,500
6/12, volume 60,800
6/9.. OH LOOKIE.. the last of the restricted share? VOLUME an asstounding 542,800 shares

Given that David Hagen (and the "Hagen Family Trust"... which anyone on the inside remembers as the "trust" used to puff up his personal financial statements) owns 7.12%.. given the market cap of over $130M ( and a P/E ratio of a completely "rational" 189+) this means ole Herr Hagen.. er.. DeFusco has taken out (at leaste) $10 MILLION DOLLARS, plus, the 1,000,000 preferred shares adds another $3M - $4M dollars. Astounding...

They still have more attorney's than employees... apparently the "executives" are mutes, because no one has heard anything from them.. or heck, about them for that matter. They haven't had any "news" (let alone truthful news)... and the pump (before one last dump I suspect) is losing steam. Watch for some announcements here to take one last stab at this POS... you heard it here.. for months.. GTXC, GTX GLOBAL IS A SCAM.

Investors Beware

GTX Global, not quite another smoking gun GTXC

Check out some of the data on the moving averages for volume. First, look at the share price...pumped up, driven down on the weight of the facts (or lack thereof)...

THEN...a massive sell off when the resticted shares come available. (a sample date right in the middle of the sell off)

Historical Quote: Tuesday, April 18, 2006
Closing Price: 3.74
Open: 5.11
Change: -1.36 (-26.67%)
Volume: 1,240,000

price goes down again, then.. as the heat gets turned up (amid rumors of men in suits and government agency badges visiting southern pines) another massive sell off.

Historical Quote: Friday, June 09, 2006
Closing Price: 3.15
Open: 3.45
Change: -0.18 (-5.41%)
Volume: 542,800

And look at any of the recent average daily volumes before the recent sell off, and after... some samples...

Historical Quote: Thursday, June 15, 2006
Closing Price: 3.11
Open: 3.16
Change: -0.05 (-1.58%)
Volume: 74,200

Historical Quote: Wednesday, June 07, 2006 <-- right before the latest sell off Closing Price: 3.22 Open: 3.20 Change: 0.04 (1.26%) Volume: 116,600

Historical Quote: Friday, June 02, 2006
Closing Price: 3.16
Open: 3.22
Change: -0.04 (-1.25%)
Volume: 94,100

Folks, These guys are good.. well managed stock manipulation, heck, it's their job now since there are no employees actually doing anything to produce a product. Yadio, Govalin, Heelstrike.. GONE. The rumors of Google (did they talk with Urz Hoezle, the Google fellow. or actually get to Stephen or Sergey?) either way... it matters not GONE. Employees.. GONE. Viable market for the technology? GONE and more.. GONE GONE GONE

Only thing left to go is Hagen, Ovsenik, Green, Garth, et al to jail

GTX Global, GTXC.... The Smoking Gun

Well, one of the smoking guns actually. LOOKIE HERE... look what I "found." Remember that Howell Woltz, along with his wife Vernice, is federal lock-up on charges related to his "Sterling Group" of companies, of which, Sterling ACS was a prominent part.

see blog posts "Unsealed Indictment For the GTXC Co-conspirators " from April 20 and "GTXC, The end is nearer than we thought" from April 19 and this filing of denial of bail from the posting "GTXC co-conspirator updates" from May 25. http://www.junkfax.org/fax/profiles/wsp/woltz/WoltzBailObjection.pdf

So, now you know the names.. Woltz... Sterling Group/Sterling ACS ... check out this. (you might have to "right click" and "save as" then view full size in a photo viewer if the "click here to enlarge" doesn't work here at the blogspot.



Imagine, the co-cosnpirators... federally indicted for related (alleged) crimes... create a "valuation" of $30M and a "committment" of $5M. This is back at the time when after Gatelinx is scrambling for funds.. not paying vendors, employees or software licensors... andthen.. magically... (again alledgedly) the assets of Gatelinx, were sold for $1M just 2 short months after this letter of "committment". A quote, from their April filing...

"In December 2004, ALCC purchased assets of Gatelinx Corporation for $1,000,000.00.
These assets included specific intellectual property, software, and hardware that
encompassed the Video and Voice Over Internet Protocol (VVOIP) services provided by
the company."

NOTE: the ALCC referenced, AutoLeaseCheck.com is suspiciously close to the auto company referenced as one of Conrad Lysiak (the newly retained counsel for moving to "full reporting) "clients" stockclubz.com's referenced entities.

So, either one of a couple of things was going on... a precipitous fall in valuation from the $30M occured... OR, the "committment letter" was bogus from the start and just the beginning of the scam, or rather at that time.. attempted scam. With the players coming together in the early days and devising the scam. Howell trotted people through the SS Gatelinx for demo's and meetings.. David flew up to Toronto (hmmm.. isn't Bryan Kos from there?) and the "deal" started to take shape. Now, with all that is documented here, you see the scam for what it is.

Next up.. and this is taking some work... details on the legal challenges facing GTX Global and it's software licensing/software usage and software development. This is big... very big. Details to follow.

GTX Global/GTXC compare and contrast

A bone of contention on this blog, and around the investor community, is the dearth of info on the "executives" for GTX Global, er.. GTXC.. um.. Gatelinx. Read what they say about their "CEO" (in quotes, because we all know David Hagen is still calling the shots).. but, nonetheless...

Mr. Isom is a seasoned senior executive with an extensive career including business development, strategic growth initiatives, international experience, and management consulting. Mr. Isom has a unique combination of operational and financial expertise. He has directed all phases of operations in start-ups, high growth businesses, and turnarounds. Mr. Isom has broad based experience across diverse industries, including telecommunications, financial services, cable and technology. In his career, Mr. Isom significantly increased revenues at SITEL Corporation while directing start-up to win a large contract from MCI Communications, and had increased revenue at Teleperformance USA by 38% while serving as its Senior VP of Operations.

How many years? What phases? At what role at Sitel? What "start-up" did he win a "large contract from MCI" with? (large being subjective I know) and.. finally? Teleperformance (if it's the same company referenced http://www.teleperformanceusa.com/index2.html ) is another call-center company (like Sitel). Interesting mix of skills to lead a technology company worth now $150M. Be that as it may, compare and contrast the former executive team. I've ommited David and Annette's "bio" for obvious reasons....

Notice the specific relevant experience and qualifications for their jobs. Wanna do channels? Have some experience... Product Management? have some relevant experience and qualifications... Operations? specific and relevant experience might help? (this comes from cached Gatelinx web pages)

Jack Irving - Executive Vice President
Jack Irving brings more than 15 years of executive business development experience from leading technology, telecommunications and Internet companies. Previous roles included Vice President of Channel Sales and Partners at Digital Island and Cable & Wireless, and Vice President of Managed Service Solutions for Comsys, an IT consulting firm. Mr. Irving also held senior management positions at Work Exchange and Adecco, where he focused on global alliances, partnership development and sales.

Kelly Sparks - Vice President, Product Marketing
Kelly Sparks is responsible for leading the product marketing and product development initiatives for Gatelinx, including software strategy, directions, requirements, development and support initiatives. Mr. Sparks has 16 years experience in the computer industry with over 11 years at IBM and 4 years as a co-founder of a digital media technology company. Mr. Sparks has a BS in Computer Information Systems from Southern College of Technology and has made major contributions to 26 technology patents in digital media distribution and interactive television.

Knut Svendsen, Ph.D. - Vice President, Product Management
Dr. Svendsen is responsible for evolving the roadmap for Gatelinx technologies and products, and for managing the product life cycle. He has more than nine years of expertise in telecom, broadband and Internet technology. Prior to Gatelinx, he worked for Norwegian-based broadband provider NextGenTel, responsible for product management and marketing. He also held business development and consulting positions with Telcordia Technologies, and research and development roles with Telenor. Dr. Svendsen holds a Ph.D. in Mass Communication from Pennsylvania State University.

Jessica Flemming - Vice President, Operations
Jessica Flemming has more than 11 years experience in telecom, professional services and business operations. As a business and operations consultant she worked for clients that include a global commercial and investment bank, a top-tier leveraged buyout firm, and a leading bank call center, where she helped to optimize her clients' business processes and operations structures. Prior to consulting, Mrs. Flemming worked at Qualcomm Inc. in human resource management and training development. Mrs. Flemming holds a B.A. from Stanford University.

Notice what's missing from anything Gatelinx, er.. GTX Global puts out? They had a CEO (Curtis Garth) who was a car salesman right before starting his meteoric rise at GTXC. no bio's for president (Green or Ovsenik), nor the CFO (oh wait, they don't have one of those), marketing or sales (don't have those either)... or the new CEO. How about anyone still listed on the "at-a-glance" document? Nope.. no bio's.. of course, none of them are even there anymore, or (in some cases) ever existed.

But they do have bios for all the attorney's they've got retained. And, you can google David Hagen (or go to Stocklemon.com) and get his bio... and with the "anatomy of a stock fraud" page at "junkfax.org" you can get everything about their co-conspirators.

Next up.. THE SMOKING GUN, proof of the collusion between Hagen and Woltz.

GTX Global/GTXC Fully Reporting...dig deeper and it still smells like more of the scam

Not to impune Mr Lysiak's character or intentions (although, as my great grandmother used to say, lie down with dogs, get up with fleas.. or soemthing like that) his alignment with Herr Hagen and the gang piloting the SS Gatelinx is troubling.

Do a zoom info search (http://www.zoominfo.com/Search/CompanyDetail.aspx?CompanyID=36716839&cs=QGCMEEnbM) and see that Conrad C. Lysiak was/is affiliated with a web site called "stockclubz.com"

From their web site... "StockClubz.com is a unique, interactive communications and resource site for the online investment community. We host individual Investment Club sites for member-companies, providing their shareholders and potential investors with forums where they can meet and exchange news and information in a real-time chat format. The Investment Club platform serves two purposes: From the company perspective, it can be an "on-line" extension and welcomed addition to any Investor Relations program. "

Sounds like just another part of the pump-and-dump scam. PLUS, if you go back and read the filings from April when Hagen and the gang got GTXC/GTX Global re-listed on the pink sheets (a 3 card monty dealer in NY isn't as good as this trick) Mr. Lysiak is ALREADY LISTED as part of the "team."

The Press Release, from May 25, 2006, for Mr Lysiak reads.. "GTX Global Corporation (Pink Sheets: GTXC - News) announced today that it has retained the services of Mr. Conrad C. Lysiak, Esq. who has prepared the appropriate filings to have GTX Global become a fully reporting company and list the company on an exchange."

HAS RETAINED!... Present tense. Nope. Because go back to the April filing... and this is what that says.. "The company has retained the services of outside consultants and legal counsel to advise the company regarding software development, marketing, and legal matters. These advisors are:
Mr. Conrad Lysiak 601 West First Avenue, Suite 503, Spokane, Washington 99201 (509- 624-1475, cclysiak@qwest.net) was retained regarding corporate governance and securities matters, including advice regarding this disclosure documentation. Mr. Lysiak does not own any company shares."

And folks, that gem was filed on April 12, 2006, a month and a half before the PR. Question #1, how can you announce (and imply) a recent development when he's already been there for some months before?

I'm gonna do some more research on who the board members of stockclubz.com are, and how they relate to or inter-relate to the other attorney's that Gatelinx.. er.. GTXC/GTX Global has retained (for various legal matters, suits and defenses), several attorneys.. start with in-house counsel Ed "easy" Ovsenik, add Lysiak... and these folks from the April filing,

• Mr. Thomas Zaccaro and Mr. Clifford Rosky
• Barry K Rothman
• Scott Chambers
• Lyn Broom

They have 7 attorney's.. and NO PRODUCT DEVELOPERS, SALES, OPERATIONS or MARKETING. Question #2, how viable a company can you have with more attorney's then employees?

Another gem from the filing in April is.. "The company has a consulting agreement with Len Green 1670 Edgewater Lane, Palatine, IL 60067 to provide accounting services for the company. Mr. Green owns fewer than 5% of the outstanding company shares."

Hmmmm.. interesting that; 1: he's from Chicago, the home of the ill-fated Yadio merger and relocation from Boca Raton, 2: He's listed as a consultant in April but there were/are announcements in December as him being the new CFO and Interim President (since "replaced" as President by Ovsenik), and additional announcements (in January) as part of the Yadio debacle that he would assume the role of CFO, Treasurer and Director 3: a consultant is getting a significant amount of shares in this scam

SOOOOO.. question #3... How can you have an employee, then a consultant, and a major shareholder all be the same guy.. not that ex-employees aren't retained as consultants.. they are... BUT, without any 8K filings of material change. He was a friggin officer in the company, CFO!.. NOW.. apparently that was never true, AND...GTXC/GTX Global (apparently) DOESN'T HAVE A CFO now either.

To re-cap... more attorney's than employees.. dubious employee listings, timing of announcements and relationships, false executive listings... AND IT'S STILL A SCAM

GTX Global/GTXC/Gatelinx

There was a time when "Gatelinx" was the 2nd or 3rd largest employer in Moore County. Proudly displayed, "Gatelinx" was the parent entity for Dynacorp (a payrolling service), PrimeTV, PrimeTV Installs (you can't see it in this phot, but it was off to the left) and many other companies in the Hagen empire. The facility, a converted Winn-Dixie grocery store was filled with art on the walls, an executive restroom (David being germ phobic) with a heated toilet seat and $1000 fixtures and more. There were 2 executive conference rooms fully outfitted with A/V. Note: David's office begins at the end of the 3rd dark glass area in the front.

David and Annette had reserved parking spots, she had a wine cellar in her office and 2 birds that would squawk at any male who walked into her office. 2 assistants for Annette, plus they had a project manager for their restaurant property, a chef on staff, had Dom Perignon (all Annette would drink) specially stocked at local restaurants and were the big dogs in the small pond (to mix a metaphor) that was Southern Pines, NC.

The parking lot is now empty, but the name remains. Ahhhhh... good times then, eh David?

The sales floor was humming. 2 and a half shifts, over 500 people working at the height. This truly state-of-the-art (and I'm not BS'ing on this one) produced a cash cow for the Hagens. Private jets, shopping sprees for Annette and her daughter in NY, cars, wine....This is the engine that became DishTVNow, which they sold off for $500K. I guess you have to sell off anything to try and keep the scam and the dream alive.

.

This is also the facility that lays empty... fallow... waiting for the next scam, or the fed's... which ever comes first.

GTX Global/GTXC... the pump chronicled

http://www.google.com/search?hl=en&lr=&q=risingpennystocks+%245+%2426&btnG=Search

http://www.google.com/search?hl=en&lr=&ie=ISO-8859-1&q=RapidPennyStocks+GTXC&btnG=Search

The same ad, over and over and over.. on blogs, web sites that have nothing to do with stocks (i.e Amazon.com) and web sites that don't even exist yet, but take ads to keep their domain active.

Hopefully, the market is finally getting wise to these guys. Share volume plummets, barely above 100K shares traded daily now. Narrow range as the pumpers lose steam, traction and momentum.

My prediction: that is, if the feds don't come marching into the empty halls of the former "Gatelinx" HQ in Southern Pines, NC.... is, an announcement of liquidation. Geez, does this mean David is gonna sell his swords? (Cause there ain't nothing left)

And on that note, (aint nothing left), a comment in this blog about Chuck Manning (fomer head developer for Gatelinx and main squeeze for Annette Hagen) is off in Dubai. Well, that about puts any hope of David recovering the source code into the category of "when donkey's fly"

One final thing.. Yadio.. David Hagen's last and best hope (given the Govalin and Heelstrike aren't real companies and their "due diligence" keeps getting extended and extended)... continues to sink. They've tried at different time to sell their "subscriber" list. They claim 1,000,000 users (at least that's what GTX Globa/GTXC has said in their marketing/license/merger/license/marketing announcements)... but compare their alexa rank.

Alexa Trend/Rank: 66,584 (1 Month) 60,214 (3 Month)

Compare that with say.. hmm. friendster?
Alexa Trend/Rank: 48 (1 Month) 56 (3 Month)

Or, how about tribe.net (a small west coast based social networking site)
Alexa Trend/Rank: 1,730 (1 Month) 1,591 (3 Month)

Even Linkedin... clearly specialized and none of the "Yadio" features....
Alexa Trend/Rank: 222 (1 Month) 722 (3 Month)

Orkut?
Alexa Trend/Rank: 25 (1 Month) 34 (3 Month)

How about the biggie.. ebaumsworld.com (biggie is sarcasm... ever hear of this?)
Alexa Trend/Rank: 550 (1 Month) 481 (3 Month)

Yadio keeps slip sliding away... and so too do any last hopes for Hagen. GTXC, GTX Global is a scam. Put Hagen in jail.

GTX Global Communicator/ GTXC

Like the Edsel of the past, or the Tucker... Gatelinx had some interesting new technology, some actual "first mover" advantage, but the market has caught up.

Now, a proliferation of software based apps (IPhone, althought they're in trouble as a company, SKYPE voice and Video with the power of eBay, etc) are around.. devices too. And Gatelinx.. er, GTX Global has lost whatever competitive "advantage" they had long ago. 2 years ago maybe.. now? Long gone.

Compare these systems requirements (from their own web site) to ANY device/application/software and you can see how (from an application penntration perspective) the limited market. AND, since they have no developers, product management, sales/marketing or operations.... well, the "future" is clear. This is a technology that coulda worked... but now has little or no chance at a future. Google blew them out... hear anymore about anyone actually deploying this? Nope.. no future. My guess the only future will be a 10ft x 10ft cell for David Hagen, Curtis Garth, Ed Ovsenik.. the new guys (Green, Isom).. and his gang (Woltz, in jail already...Oemke, soon, Koz, soon.. and others)

http://www.gtxglobal.net/default.asp?Dir=Support&PageView=FAQ-Requirements&Title=GTX%20Global%20-%20FAQ%20-%20System%20Requirements

I won't make any comments about the screen shots ALL being kluged up versions of "design spec's" and versions of Gatelinx prodct that never made it out of the lab. Those will be for a different day....

One more thing I will comment on is, the engine of GTXC's "pump-and-dump" does not include any attention to detail when it comes to marketing. The "Press" section of their web site is "Under Construction." Ever hear of any company, one moving to "fully reporting" especially that can't even do that right? And, it goes deeper.

We all know that the "Gatelinx" site, press, collateral and marcom materials were all simply repurposed to initiate the stock scam, but isn't it just a little but interesting that there's been no updates? How about their own "at-a-glance" document.

http://www.gtxc.org/Media/WhitePapers/ataglance.pdf

• Curtis Garth: CEO, ex car salesman.. GONE
• Ivan Ivanov: CTO, never an employee, maybe he's been deported back to Bulgaria. his brother wasn't here legally, don't know if Ivan was
• Mike Chisolm, elevated from Product Management to VP, GONE (he lasted longer than anyone)
• Keri Kenan: VP Marketing, another "ghost" who doesn't exist anywhere but in David Hagen's world, did she ever exist there?

No bio's for any of these folks anywhere... how about listings and bios for any sales? nope... any operations? nope.. New president? (first Len Green then Ed "easy" Ovsenik) Nope. Any listing for the CFO? nope.. how about the new CEO, Bradford "ghost" Isom? Nope.

You can spell SCAM any different number of ways, but they all have the letters H,A,G,E,N in them. Investors beware.